New York, Feb. 04, 2021 (GLOBE NEWSWIRE) -- With growing awareness on litigation finance, around 80% of the lawyers were found to be accustomed with Third-Party Funding (TPF) in 2020, which was double the number as compared to 2017. Moreover, litigation funding witnessed notable growth in the last 7 years and has turned into a multi-billion-dollar industry.
Research Nester has added a detailed report on “Global Litigation Funding Investment Market” in its repository of market intelligence reports which offers its readers an in-depth analysis of the latest trends, opportunities, and the factors that are associated with the growth of the market between the years 2019 and 2028.
Due to coronavirus pandemic, the demand for litigation financing was intensified as insolvency and other challenges have increased the burden on many individuals and organizations who need funds so as to resolve their claims through litigation or arbitration. Litigation funding or a Third-Party Funding is defined as a funding process where funds are provided to a party through funders to generate financial return. In 2019, the global litigation funding investment market garnered USD 11,473.3 million. The market is expanding on account of the growing need for litigation funding amongst the claimants, backed by the rising legal costs, followed by the need amongst individuals and organizations to generate a source of income through litigation investment. Litigation financing is gaining popularity among investors and businesses, and is generating new opportunities and investment platforms. The global litigation funding investment market is anticipated to grow with a CAGR of 8.76% during the forecast period, i.e., 2020-2028. The market is further projected to attain revenue of USD 24,067.5 million by the end of 2028.
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Globally, the litigation funding investment market is segmented on the basis of regions into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America is projected to grow with the highest CAGR of 9.19% during the forecast period. The market in the region accounted for USD 6,303.4 million in 2019 and in 2021, it is estimated to grab market share of 55.38%. The growth of the market in the region can be attributed to the presence of a favorable regulatory landscape for litigation funding, coupled with the presence of leading litigation funders in the region who are offering efficient software and numerous innovative services for litigation funding. Moreover, growing trends of portfolio litigation funding or portfolio finance amongst the investors, along with the growing demand for litigation funding investment from the end-users, such as BFSI, media & entertainment, IT & telecommunication among others are anticipated to drive the market growth in the region in the coming years.
However, high risks associated with litigation funding such as non-recourse and unpredictable nature of the whole process, along with the unclear rules for litigation funding in several nations are some of the factors estimated to act as barriers to the growth of the global litigation funding investment market.
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The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Based on type, the global litigation funding investment market is segmented into commercial litigation, international arbitration, bankruptcy claim, and others, out of which, the commercial litigation segment registered the largest market value of USD 6,342.5 million in the year 2019 and is further projected to grow with a CAGR of 8.5% during the forecast period. The segment is further projected to cross value of around USD 7270 million by the end of 2021. Commercial litigation includes almost all types of cases that can emerge in a business context, such as disputes related to joint ventures or partnerships, business torts, breach of contract, and others. The growing number of trademark infringement and copyright cases, consumer class actions, and intellectual property litigation cases among others are some of the factors anticipated to drive the growth of the segment during the forecast period.
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The global litigation funding investment market is also segmented on the basis of enterprise size and end users.
Global Litigation Funding Investment Market, Segmentation by Enterprise Size
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Global Litigation Funding Investment Market, Segmentation by End Users
- BFSI
- Manufacturing
- IT & Telecommunication
- Media & Entertainment
- Healthcare
- Others
Impact of COVID-19 on Global Litigation Funding Investment Market
The COVID-19 pandemic has created numerous challenges related to the functioning of courts. Stringent regulations, such as curfews, lockdowns, and social distancing norms, set by the regulatory bodies to curb the spread of the virus, raised the need amongst the regulatory authorities of courts to take emergency measures such as the partial opening of courts, delivery of justice remotely via online platforms and others. The resulting action has further slowed down the functioning process of the courts severely, and in turn, has increased the number of pending cases. The National Center for State Courts (NCSC), a government body that focuses on improving the judicial administration in the United States, took initiatives to combat the coronavirus disease where the state courts granted extensions for court deadlines and further suspended in-person proceedings. Moreover, third party funding during the pandemic is providing more appealing benefits to litigants, thereby creating attractive opportunities for the litigation financing companies.
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Some of the prominent industry leaders mentioned in our report that are associated with the global litigation funding investment market are Apex Litigation Finance, Augusta Ventures Ltd., Burford Capital LLC, Woodsford Litigation Funding Ltd., Omni Bridgeway, Harbour Litigation Funding, Deminor, Balance Legal Capital LLP, and others.
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